Stocks end flat after Fed comments

Friday

Jun 29, 2007 at 12:01 AM

NEW YORK | Stocks finished flat Thursday after the Federal Reserve said the economy appeared to be growing at a “moderate" pace but offered a somewhat cautious reading on inflation.The central bank, which stood pat on short-term interest rates as had been widely expected, issued a largely unchanged assessment of the economy, saying its primary concern remains the risk that inflation will fail to moderate.Stocks bounced around as investors tried to interpret the Fed’s comment that recent readings on inflation excluding energy and food prices showed some improvement but no “sustained" signals of easing.

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